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Tax Education

Tax Education is a not-for-profit educational organization created by Prof. Vinod Kumar for helping you in learning of different tax laws.

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Tax Education | tax.svtuition.org Reviews

https://tax.svtuition.org

Tax Education is a not-for-profit educational organization created by Prof. Vinod Kumar for helping you in learning of different tax laws.

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tax.svtuition.org tax.svtuition.org
1

New deduction for National housing bank ( NHB )

http://tax.svtuition.org/2009/07/new-deduction-for-national-housing-bank.html

Saturday, July 11, 2009. New deduction for National housing bank ( NHB ). NHB is wholly owned by RBI and Govt. of India has provided new deduction for this bank . From 1st April 2010 , NHB has right to get deduction of 20% of net profit for paying income Tax . Finance manager has provided this deduction due to watching its social and promotional works relating to finance of House construction in rural area. Suppose NHB earn Rs. X profit. Now after Ist April 2010. Less deduction = X X 20/100.

2

New amendments of Charging Income tax on Tea business

http://tax.svtuition.org/2009/07/new-amendments-of-charging-income-tax.html

Friday, July 10, 2009. New amendments of Charging Income tax on Tea business. Union budget 2009-10 has made some amendments for charging income tax on tea business. If you are doing tea business . Then , you have to deduct 10% depreciation on total sale proceed of tea. After this you can deduct other expenses. For income tax purpose , 60% of balanced amount is not chargeable to income tax . We can explain it with example. Sale proceeds of tea business = Rs. 1000. Less depreciation on sale proceed.

3

No tax upto 220000 earning of senior citizen

http://tax.svtuition.org/2009/06/no-tax-upto-220000-earning-of-senior.html

Sunday, June 28, 2009. No tax upto 220000 earning of senior citizen. If you are senior citizen and your age is more than 65 , then your earning of 220000 is out of from any income tax liability . According to new rates of income tax . Senior citizen's pension is only taxable if it is more than Rs. 220000 . But in both situation , senior citizen has to file return in assessment year 2009 to 2010 . Subscribe to: Post Comments (Atom). Get Our Free Email Newsletter.

4

New Amendment in Section 194 I of TDS

http://tax.svtuition.org/2009/07/new-amendment-in-section-194-i-of-tds.html

Sunday, July 12, 2009. New Amendment in Section 194 I of TDS. TDS under 194 I is relating to payment of Rent more than Rs. 120000 annually in Finance bill 2008 , it was the duty of individual to deduct tax of 15 % of rent and deposit in Govt. account and other can deduct 20% of rent of building. Subscribe to: Post Comments (Atom). Get Our Free Email Newsletter.

5

System of preparation of Income tax

http://tax.svtuition.org/2009/02/system-of-preparation-of-income-tax.html

Sunday, February 22, 2009. System of preparation of Income tax. System of calculating and preparing of income tax is very scientific . For calculating income tax , we collect all incomes of a person . It may received from salary , house buildings , business and profession and rest will include in other incomes . Subscribe to: Post Comments (Atom). Get Our Free Email Newsletter.

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Tax Education

Tuesday, October 20, 2009. How to Calculate income tax of Individual. Calculation of income tax of individual is full based on the assessment which an assessee can do himself or take the help of CA or advocate. If you want to calculate your income tax liability by yourself , then . First of all calculate your different incomes in the following heads . 1 Calculate total incomes under the head of salary less deductions of gross salary according to current finance bill . 2 Calculate total rent earning .

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